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The legacy of cypherpunk in the modern economy

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  • Kris Kaleta

Abstract

This article explores how the cypherpunk movement – advocating privacy, digital sovereignty, and digital decentralisation – shaped modern economic paradigms, particularly cryptocurrencies and decentralised finance. Originating in the late twentieth century, its principles laid the groundwork for blockchain technologies and challenged state‐centric monetary systems. The analysis connects cypherpunk ideology to historical debates on money and governance, evaluating its implications for the contemporary institutional framework. By tracing the evolution of these ideas, the study underscores their enduring influence on twenty‐first century economic practices, illustrating how decentralised systems redefine agency and accountability in economic interactions.

Suggested Citation

  • Kris Kaleta, 2025. "The legacy of cypherpunk in the modern economy," Economic Affairs, Wiley Blackwell, vol. 45(2), pages 244-260, June.
    • Handle: RePEc:bla:ecaffa:v:45:y:2025:i:2:p:244-260
    DOI: 10.1111/ecaf.12704
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    References listed on IDEAS

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    3. Hassan, Samer & De Filippi, Primavera, 2021. "Decentralized Autonomous Organization," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 10(2), pages 1-10.
    4. Desmond Ng, 2021. "Balancing Agency with Structure: Institutional Entrepreneurship as an Embedded Discovery Process," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 7(2), pages 147-164, July.
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